Latest News & VACUL Headlines
- Comments on New CDFI Application Process Due Dec. 5
November 10, 2022Taking the next step in overhauling the Treasury Department’s CDFI program, the CDFI Fund announced Friday that comments on a proposed revised application will be accepted until Dec. 5.
- Navy, PenFed Leaders Among American Banker's 'Most Powerful Women in CUs'
November 10, 2022In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change. Among those recognized: Navy Federal President and CEO Mary McDuffie and PenFed Senior Vice President, Operations Amy McGillan.
- Digital Asset Marketplace Needs Appropriate Oversight
November 10, 2022Credit unions support the “whole-of-government” approach to digital assets to ensure appropriate oversight and regulation of the marketplace, CUNA wrote to the Treasury’s Office of Strategic Policy, Terrorist Financing and Financial Crimes. That approach is outlined in an executive order issued by the White House in March.
- ABNB Relocating Sewell Point Branch to Ward's Corner
November 10, 2022As part of our ongoing process of re-structuring our branch network, ABNB’s Sewell’s Point branch will be relocated to the nearby, highly populated Ward’s Corner retail area in Norfolk in the Spring of 2023. To accommodate this move, the Sewell’s Point building will be sold.
- National Credit Union Foundation Announces New FinHealth Director
November 10, 2022The National Credit Union Foundation (the Foundation) has announced the addition of Jamie Chandler as FinHealth Director. As FinHealth Director, Chandler will lead the Foundation’s efforts to strengthen the understanding and support of financial well-being across the credit union movement.
- ValleyStar Credit Union Sponsors Virginia Tech Data Analytics Graduate Students
November 10, 2022ValleyStar Credit Union will partner with Virginia Tech as a capstone sponsor for the Pamplin College of Business Center for Business Analytics (CBA). The team will build a data-based enterprise risk management (ERM) framework to strengthen the alignment of all ValleyStar teams.
- Total Consumer Credit Rises, as CUs Grab Larger Share
November 10, 2022Total consumer credit rose 6.5% at a seasonally adjusted, annualized rate in September and is up 7.9% compared to a year ago. Revolving credit – primarily credit cards – rose 8.7% and is up 5.8% compared to September 2021. Non-revolving credit – primarily auto loans and education loans – rose 5.7% during the month and is up 5.8% from a year ago.
- NAFCU, DCUC, CUNA Mutual Group Join VFW in Making Request of NCUA
November 10, 2022NAFCU has joined with the Defense Credit Union Council (DCUC), the Veterans of Foreign Wars (VFW), and CUNA Mutual Group to request that the NCUA amend the definition of “qualified charity” in part 721.3 of the agency’s regulations to include 501(c)(19) veterans’ organizations. In the letter, the organizations stated that although federal credit unions are allowed to fund a Charitable Donation Account (CDA), NCUA regulations only allow credit unions to donate to “a charitable organization or other non-profit entity recognized as exempt from taxation under section 501(c)(3) of the Internal Revenue Code.”
- Credit Unions Support ‘Whole of Government’ Approach to Digital Assets, CUNA Tells Treasury
November 10, 2022Credit unions support the “whole-of-government” approach to digital assets to ensure appropriate oversight and regulation of the marketplace, CUNA wrote to the Treasury’s Office of Strategic Policy, Terrorist Financing and Financial Crimes.
- Carrie's Diary: Death and Rebirth
November 10, 2022If you think of an election as a death and rebirth, with each new Congress or state legislative session, we get to reshape and re-think our priorities. At the League, we do that each year under the direction of our board and recommendations from our members, committees, and staff. For us, supporting an environment that allows credit unions to focus on their members serves credit unions in Virginia.